News
National Commercial Real Estate

Blackstone Unloads Final 21% Stake In SeaWorld Entertainment To Chinese Firm For $429M

SeaWorld San Diego
Photo credit: Wikicommons/Antoine Taveneaux
Seaworld San Diego

Blackstone Group has sold its remaining 21% stake in SeaWorld Entertainment Inc. to China’s Zhonghong Zhuoye Group for roughly $429M.

The sale, which factors out to about $23/share according to GlobeSt, is one of several deals the world’s largest alternative investment firm has made with Chinese players in the past several years. This includes the sale of its Strategic Hotels & Resorts portfolio in 2016 to Chinese insurer Anbang in a blockbuster deal worth $6.5B, followed a string of deals with Chinese investors including the sale of the iconic Waldorf Astoria in Midtown Manhattan to Anbang for $1.95B and the sale of a 25% stake in Hilton Worldwide Holdings to China’s HNA Group for roughly $6.5B.

Blackstone bought out SeaWorld Entertainment — which operates five theme parks in the U.S. — for $2.3B in 2009 from Anheuser-Busch NV. As part of the deal, SeaWorld will advise Zhonghong in its plans to develop and design theme parks and family entertainment hubs in China. The sale is projected to close in Q2.

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's National Newsletters
Related Stories

Wall Street Impatient For Big Tech Returns On Data Center Spending

As AI Adoption Ramps Up, Half A Million Property Managers Are In The Crosshairs

Treasuries Hover Around 4.7% As Wall Street Questions If Warsh Is A 'Dove In Hawk's Clothing'

Federal Government To Sell Nearly 31K SF In Five Points: The Denver Deal Sheet

Avison Young Had Assets Frozen By Bank Over Unpaid Taxes

Artificial Intelligence Companies Reshaping Dublin Office Demand As OpenAI Confirms HQ

Mars Factory Overhaul Stalls As Candymaker's Chicago Expansion Accelerates

Camden Property Trust Sells West Coast Portfolio, Clears $1.5B Target

Churchill Downs Plans To Sell 9 Casinos, Focus On Horse Racing

Bringing Stability And Savings To CRE Insurance Through Working Layer

More Hotel Owners In Need Of Cash Are Getting It From The Big Brands

Former Arms Dealer Targeting Heartland Apartment Takeover Files For Bankruptcy